Now that ProShares has the domestic market pretty well covered with its popular line of leveraged and inverse exchange traded funds (ETFs), the popular provider is going international.
So far in June, ProShares has launched eight international leveraged and inverse ETFs targeting developed and emerging markets. The funds are:
- UltraShort MSCI Europe (EPV)
- UltraShort MSCI Pacific ex-Japan (JPX)
- UltraShort MSCI Brazil (BZQ)
- UltraShort MSCI Mexico Investable Market (SMK)
- ProShares Ultra MSCI EAFE (EFO)
- ProShares Ultra MSCI Emerging Markets (EET)
- ProShares Ultra FTSE/Xinhua China 25 (XPP)
- ProShares Ultra MSCI Japan (EZJ)
It’s not ProShares’ first foray into the international space. Before these eight funds launched, they had six inverse international ETF already in existence.
ProFunds CEO Michael Sapir says the launches are an attempt to round out their existing lineup to a natural place. “ProShares has the domestic U.S. market fairly well-covered,” making it a natural thing to expand beyond those markets.
“We’re trying to offer leveraged and short exposure where people want to see exposure,” Sapir says.
As for all the new leveraged and inverse ETF providers popping up on the scene in the last year or so, instead of competition in the space, Sapir says ProShares’ focus simply remains on what investors are looking for.